New York Gov. Kathy Hochul released the state’s proposed Fiscal Year (FY) 2025 budget, totaling $233 billion, which is a 4.5 percent increase from the FY 2024 budget.
“This budget makes it clear that fiscal discipline can co-exist with progressive, people-driven policies,” Gov. Hochul said. “I am committed to fight the right fights on behalf of New Yorkers and to pursue the common good with common sense – by seeking common ground.”
The budget features more than $17 billion in investments in transit, including $8.8 billion in operating support for transit agencies throughout the state. The proposed budget also supports transit priorities the governor outlined in her State of the State address, including advancing key Metropolitan Transportation Authority (MTA) capital projects and combating toll and fare evasion. Additionally, the budget reflects an increase in operational support for non-MTA agencies with both update and downstate agencies seeing a 5.4 percent regional increase in proposed funding.
Investments in transit include:
- $7.9 billion in state operating aid for the Metropolitan Transporation Authority
- $7.6 billion for the third year of the five-year $32.9 billion New York City Department of Transportation Capital Plan, the largest in New York’s history.
- $551 million for non-MTA transit in the downstate region
- $323 million for transit systems in upstate New York
- $45 million for engineering on the Interborough Express
- $16 million to move forward with the planning of the Second Avenue Subway extension to Broadway.
- Introducing a comprehensive safety package to address the remaining legislative recommendations from the Stretch Limousine Passenger Safety Task Force.
